Missouri SB1623 modifies trust laws, clarifying roles and responsibilities of trustees, trust advisors, and protectors.
Missouri SB1623 modifies provisions relating to trusts by clarifying the roles and responsibilities of trustees, trust advisors, and protectors. It establishes that trustees are not liable for actions taken within the scope of authority of trust advisors or protectors. The bill also outlines the powers and discretions of various trust advisors, including investment, distribution, and tax advisors, and specifies that these advisors are not acting in a fiduciary capacity unless otherwise provided in the trust instrument.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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